Morgan Stanley reduced its stake in CNH Industrial NV (NYSE:CNHI) by 34.6% in the second quarter, HoldingsChannel.com reports. The fund owned 2,816,555 shares of the company’s stock after selling 1,491,601 shares during the quarter. Morgan Stanley’s holdings in CNH Industrial were worth $28,954,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently modified their holdings of CNHI. Vanguard Group Inc. raised its holdings in shares of CNH Industrial by 1.9% during the second quarter. Vanguard Group Inc. now owns 29,806,425 shares of the company’s stock valued at $306,410,000 after buying an additional 552,786 shares during the last quarter. Amundi Pioneer Asset Management Inc. raised its holdings in CNH Industrial by 25.5% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 16,786,786 shares of the company’s stock worth $171,225,000 after purchasing an additional 3,408,301 shares in the last quarter. Bank of Italy raised its holdings in CNH Industrial by 19.5% during the second quarter. Bank of Italy now owns 9,049,841 shares of the company’s stock worth $92,874,000 after purchasing an additional 1,477,931 shares in the last quarter. Allianz Asset Management GmbH raised its holdings in CNH Industrial by 5.3% during the second quarter. Allianz Asset Management GmbH now owns 7,625,962 shares of the company’s stock worth $78,395,000 after purchasing an additional 384,690 shares in the last quarter. Finally, Gabelli Funds LLC raised its holdings in CNH Industrial by 1.0% during the second quarter. Gabelli Funds LLC now owns 6,385,754 shares of the company’s stock worth $65,646,000 after purchasing an additional 63,000 shares in the last quarter. Institutional investors own 20.02% of the company’s stock.
Several equities research analysts recently commented on the company. Morgan Stanley raised CNH Industrial from an “equal weight” rating to an “overweight” rating in a report on Monday, August 19th. Deutsche Bank raised CNH Industrial from a “sell” rating to a “hold” rating and set a $10.00 target price on the stock in a report on Tuesday, June 18th. ValuEngine cut CNH Industrial from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Stephens set a $10.00 target price on CNH Industrial and gave the stock a “hold” rating in a report on Thursday, August 29th. Finally, UBS Group boosted their target price on CNH Industrial from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. CNH Industrial has a consensus rating of “Hold” and a consensus price target of $11.70.
CNH Industrial (NYSE:CNHI) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.02. The company had revenue of $7.57 billion for the quarter, compared to analysts’ expectations of $7.80 billion. CNH Industrial had a return on equity of 22.56% and a net margin of 3.97%. The firm’s revenue was down 5.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.28 earnings per share. On average, research analysts forecast that CNH Industrial NV will post 0.85 earnings per share for the current year.
CNH Industrial Profile
CNH Industrial N.V. designs, produces, markets, sells, and finances agricultural and construction equipment, trucks, commercial vehicles, and buses worldwide. The company operates in five segments: Agricultural Equipment, Construction Equipment, Commercial Vehicles, Powertrain, and Financial Services.
Further Reading: Beta
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